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United Bank of Egypt completes digital upgrade

The United Bank of Egypt (The United Bank) has completed the modernisation of its core banking infrastructure.

The transformation stretches across retail, corporate and treasury business segments.

The bank has upgraded to the latest version of Finastra’s Fusion Equation solution, integrating with Fusion Teller to streamline in-branch retail operations.

Additionally, the overall United Bank digital upgrade programme includes the implementation of the latest versions of Fusion Trade Innovation and Fusion Treasury to bolster corporate banking and treasury operations, respectively.

The United Bank of Egypt CIO, Ahmed Helmy said: “We were keen to grow our business and widen the range of products and services that we offer to our retail and corporate customers. Going digital was the best way to achieve these goals.

“We’ve worked with Finastra a long time. We recognised it was best placed to help us revolutionise our business because of its expertise and the comprehensive functionality of its solutions.

“Since upgrading Fusion Equation, we have increased the number of products we offer to our customers by 20% and now we can attract new customers and increase our cross-sell capability.”

The United Bank digital upgrade is expected to enable the lender provide more responsive services as well as comply with the Islamic banking regulatory requirements.

Furthermore, the bank can roll out new products and services faster across multiple channels to its customers.

Finastra managing director for the Middle East and Africa Wissam Khoury said: “Now equipped with an upgraded suite of core banking solutions, The United Bank can set itself apart from the competition to win more customers and boost market share.

“They have already seen compelling results that demonstrate real value.”